In the performer category, the foundation announced Kate Bush, Sheryl Crow, Missy Elliott, George Michael, Willie Nelson, Rage Against the Machine, and The Spinners on Wednesday.
The musical influence award will go to DJ Kool Herc and Link Wray, while the excellence award will go to Chaka Khan, Al Kooper, and Bernie Taupin.
Don Cornelius will receive this year's Ahmet Ertegun award, which is given to "non-performing industry professionals who have had a major influence on the creative development and growth of rock and roll and music that has influenced youth culture."
"This year's incredible group of Inductees reflects the diverse artists and sounds that define rock & roll," stated John Sykes, Chairman of the Rock and Roll Hall of Fame Foundation. "We are honoured that this November's Induction Ceremony in New York will coincide with two music culture milestones: Willie Nelson's 90th birthday and the 50th anniversary of the birth of Hip Hop."
Crow, Michael, The White Stripes, Elliott, Cyndi Lauper, Iron Maiden, Nelson, Rage Against the Machine, A Tribe Called Quest, Warren Zevon, Soundgarden, The Spinners, Bush, and Joy Division/New Order were among the nominees for this year's ceremony.
Elliott and The White Stripes made the list in their debut year. Crow, Lauper, Michael, Nelson, and others are also nominated for the first time.
The "Strong Enough" singer opened up about her recent nomination to HotGossipNewz at the American Heart Association Red Dress Collection Concert in New York City in February.
"I'm still in a little bit of shock," Crow, 60, said at the time.
"It's as if I've been nominated for an Oscar for a 30-year film." So that's pretty cool. "I feel very honoured," she continued.
Lionel Richie, Duran Duran, Pat Benatar, Eminem, Eurythmics, and Carly Simon were among the performers inducted last year.